New York Markets After Hours

THQ beats forecast; pulls guidance on game shifts

DanGallagher

SAN FRANCISCO (MarketWatch) -- THQ Inc. [thqi] reported better-than-expected sales for its second fiscal quarter on Monday afternoon, citing strong sales of "Darksiders II." But the videogame publisher also suspended its guidance for the current quarter and fiscal year, and said it has hired an adviser to evaluate "strategic alternatives," as the delay of several game releases i likely to create financial pressure in the near term. "I firmly believe releasing our fourth quarter titles without extra time for polish in the current environment would lead to underperformance that could in turn lead to future additional capital shortfalls. But extending development schedules in order to make the best possible titles also has financial implications," said THQ president Jason Rubin in a statement. The company is delaying the release of "South Park: The Stick of Truth" to early fiscal 2014 from its previously planned release in early March. Also, "Company of Heroes 2" and "Metro: Last Light" will ship in March, later than the company initially planned. THQ shares were halted in after-hours trading on Monday.

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